Political Quotes

“recently I introduced S. 684, the Fishermen's Bankruptcy Protection Act, a bill to provide family fishermen with the same protections and terms as those granted family farmers under Chapter 12 of our bankruptcy laws. I would like to take this opportunity to explain this legislation to my colleagues in anticipation of the Senate's upcoming debate on bankruptcy legislation. Like many Americans, I'm appalled by those who live beyond their means, and use the bankruptcy code as a tool to cure their self-induced financial ills. I have supported and will continue to support reasonable reforms to the bankruptcy code that ensure the responsible use of its provisions. All consumers bear the burden of irresponsible debtors who abuse the system. Therefore, I believe bankruptcy should remain a tool of last resort for those in severe financial distress. As those familiar with the bankruptcy code know, however, business reorganization in bankruptcy is a different creature than the forgiveness of debt traditionally associated with bankruptcy.”